Project Management Objectives: Definition, Types & Examples

There's nothing more frustrating than working on a current project with no clearly defined objectives for its scope and outcome. It's like walking in circles with no idea about your destination.

You probably have personal goals you want to achieve in your life. You have a defined plan for achieving those goals and are committed to it. 

You also need project management objectives to avoid the burden of working aimlessly on a project. Project management goal setting helps define the project's outcomes and set the direction the project will take.

In this article, we examine the objectives of project management. We explain the importance of setting strategic goals, how to implement them, and how to create effective business targets. We also give tips for setting realistic objectives.

What Are Project Management Objectives?

‍

Project management involves using specific skills, techniques, and tools to achieve a set outcome.

Objectives in project management are specific outcomes that a project seeks to achieve within a specified time frame. They help clarify the project's purpose and guide the project team members toward completing it.

Project management objectives are essential as they affect resource planning, decision-making, and project management phases.

Project objectives are different from project goals. While project objectives are precise, with a defined, measurable outcome, project goals are closely related to business objectives. Project goals set the project's overall direction.

Here's an illustration to show the difference between a project goal and an objective:

Project objective: “Increase Customer Engagement by 20% by End of February 2025.”

This objective is specific, attainable, measurable, relevant, and has a deadline. It clearly defines the project's outcome.

Project goal: “Improve the Procedures for Obtaining Customer Feedback and Implementing Them to Increase Sales.”

This goal isn't clearly defined, has no time frame, and defines the overall outcome tied to the project's business aspects.

What's the Difference?

We've already defined project goals and objectives, but what are their differences?

A project goal is focused on the end result that the organization is trying to fulfill. The project management goal-setting process begins during the planning stage when the project manager outlines what the project wants to achieve.

A project objective, on the other hand, is more detailed and supports the project's aims. Defining project objectives is also part of the initiation phase. After setting goals, proper structuring of objectives helps to establish the project plan, scope, budget, timeframe, and resources you need to produce the project's deliverables.

In project management, the goals and objectives you create should always be connected and you cannot have one without the other. Goals and objectives can be geared towards answering a need, modifying a process, or working on an opportunity depending on what the business is aiming for.

Several types of project management objectives include performance, business, quality, legal compliance, and financial goals, which we will discuss below.

Types of Project Objectives

Financial

This type of objective focuses on the impact of a project to your client’s finances. These are set to directly improve an organization’s financial health. Typically, this can be achieved by increasing margins between revenue and costs. 

Performance

A performance objective is commonly set to improve a service or a product during its lifecycle and its output performance. Project managers can hit this by having accuracy in budget prediction, project timeline, and efficiency of their team members.

Quality

To guarantee client satisfaction, a quality objective can help in ensuring projects are continuously improving by measuring the quality of their processes and outputs. Project managers can see which services or products need improvement, and which ones are being received well through this objective. 

Business

A business objective is important to every project because it ensures that each of your projects is aligned with your company values. This objective is crucial to define as it verifies how your business ethics and principles are applied to your projects.

Technical

Since most, if not all, project management organizations use technology, this project objective aims to improve your existing digital tools and machinery. This also applies to installing new softwares, hardwares, or upgrading your current tools.

Compliance

No matter the industry, rules and regulations are vital to organizations to properly manage a project or a process. Compliance objectives are set to protect your projects from potential risks, future legal issues, and many more.

‍

Need Help With Your Project Management Efficiency?

Well, We Help With Just That!

Let’s talk about how ScaleTime can help you stay on track to ensure your next project is a success!

Why Setting Goals and Objectives Is Important in Project Management

We need to set project management goals and objectives because it is beneficial for the project managers, employee needs, and the project as a whole. A project manager's role entails setting these objectives with project deliverables to ensure desirable project outcomes.

For the project manager:

Enhance project management abilities

• One of the top benefits of setting your project management goals and objectives is to improve the performance necessary to fulfill project manager roles. It keeps you up-to-date and ready to take on project challenges to complete projects. New goals are crucial for first-hand learning and improvement to hone project management skills.

• Focus on securing the project’s success.
• A project manager becomes more aware of the limitations and risks of a project with objectives and goal-setting. Goals enable them to handle multiple projects while controlling and maintaining project boundaries.

For the project team:

‍

Boost morale.

• Goals and objectives are set to motivate team members and boost employee satisfaction. When they know what the purpose of their work is, team members are more engaged which may lead to improving their overall productivity. By the end of the project, you will have happier and more satisfied workers.

Strengthen teamwork.

• A project can be a struggle to complete on your own. Complex ones need specialists, consultants, and members from other departments and without something holding them together, your project is doomed to fail.
• Goals and objectives not only strengthen teamwork but also develop team collaboration and build a support system within the organization, which ultimately streamlines a project’s success.

For the project:

Prevent scope creep in project management

• Scope creep is like a disease; you won’t know it’s there unless you see the symptoms creeping in. Having objectives reduces the risk of scope creep.

Manage stakeholder’s expectations

• Stakeholders can be assured that they are on the same page as the whole project team when objectives are clearly communicated in a goal statement. You can build trust and a good reputation with key persons involved in the project.

Monitor the project’s progress

• Setting goals and objectives is essential in keeping track of your project.

How will you know that you are still on track?

By using relevant metrics to measure progress regularly, you can safely say that you are still within your scope and even have access to a quick assessment of how the project is coming along.

Implementing Project Objectives Across Phases of Project Management 

A project manager oversees all the aspects of a project and aims to ensure the successful completion of the project across all phases of project management. 

A project has five management processes: Initiation, planning, execution, monitoring, and closure phases.

Project management has four essential elements, namely, resources, time, money, and scope. All these elements are captured across the five phases.

Let's look at how you can implement project objectives across these phases.

Initiation phase

The project initiation phase is where you get an understanding of the project firsthand. you assess its feasibility, the technical requirements, who your team members and stakeholders are, and the tools you need. This is where the project manager identifies the core problem and states how the project will provide solutions. 

Also, in the project initiation phase, the manager breaks down the project's potential risks, timelines, and benefits and allows team members and stakeholders time to review.

Planning Phase 

In this phase, the project manager identifies the project's scope. This helps prevent scope creep, something that can collapse a project even before it starts.

The planning phase is vital because it is where the team holds its kick-off meeting. In this meeting, the team creates a stakeholder register and a project management plan so an agency workflow is ensured.

A stakeholder register lists all stakeholders and details their tasks or interests in the project. In contrast, a project plan is a handbook guide that includes a scope statement, effective communication plan, risk management plan, task management plan, work breakdown structure, and financial plan. 

Execution phase 

This is the phase in which work processes are done, deliverables are met, and the project plan is implemented.

In this phase, the team produces a status report for the manager. The project manager then reviews and monitors the report to determine whether the project is on track. The manager can modify the project plan or adjust the schedules if necessary.

Metrics used to track projects include budget, scope, and schedule. These metrics help the manager check whether the project aligns with the plan.

In this phase, workflow diagrams are drawn. These are graphical representations of how each task and step in the project should progress. It details the individuals responsible for specific project implementation functions and outlines the workflow from start to finish.

This ensures uniformity and guarantees the project’s quality.

A project manager must have a reliable tool to monitor the execution phase. Software like ClickUp, Asana, or Monday is highly recommended.

Monitoring phase 

The monitoring phase allows the team to evaluate the project's overall progress. The team evaluates key performance indicators, quality deliverables, expenditures, and resource monitoring.

The project manager should regularly inform the stakeholders of the project’s progress. This helps keep the communication lines open, giving room for transparency and building trust.

Closure phase 

In the closure phase, the team identifies what needs to be done before the project gets the final approval and is signed off.

Before signing off, you can discuss your failures and challenges. The project manager can then give feedback on the team's and individual performance reviews. 

After the sign-off and closure of the project, the team can celebrate and look forward to new projects.

Across all these phases, a project manager's role is to set clearly defined objectives and budgets. They should also communicate well with the team and stakeholders and keep the team united.

How to Create Effective Project Objective Statements 

To create effective project objective statements, use the following strategies:

Use the SMART framework 

The SMART framework is used by most organizations worldwide to define clear project objectives. SMART means:

Specific

State clearly what the objective aims to achieve. 

Measurable 

Provides criteria to measure, quantify, and track the project deliverables.

Achievable 

The objective must be realistic and achievable within the defined timelines.

Relevant

Aligns the objective with the company's mission, contributing to the company's bigger picture.

Time-bound

Your objective must have a deadline for achieving the stated outcomes. Time management helps keep the project's urgency and the team's focus.

Be specific

Being specific about what you want and hope to achieve motivates you to commit and work towards achieving it.

Unclear objectives make them impossible to track and succeed.

The objective of project management should be detailed and descriptive. Being specific ensures your team and stakeholders don't go in circles, wasting time and resources. 

Make objectives measurable 

Being able to quantify and measure your objectives will help you determine whether you're on track or not.

Measurability helps you identify areas where you need to adjust time and resources. You can use project management tools or a project management checklist to keep track of your measurable objectives. 

Ensure objectives are achievable 

A project manager's role is to ensure that objectives are achievable, reasonable, and feasible.

Having achievable objectives ensures that you're committed to finding ways to deliver and succeed as a manager. You should also be able to adjust if needed so the project doesn't grind to a halt.

Align objectives with business goals 

A good project manager ensures that objectives align with the company's business goals. For them, it's about larger goals-- it's not just about completing a project and signing off; it's about the company's bigger picture. 

Set a clear time frame 

A project management team should always keep in mind that successful projects must have deadlines. While you may face challenges when creating a project timeline, always set a clear time frame even when making the necessary adjustments.

Examples of Project Objectives in Agency and Consulting Sectors 

In an agency, project objectives are clear goals that an agency seeks to achieve within a defined time frame. These objectives provide a roadmap for the project and a framework for informed decision-making for the agency and the client. 

Marketing and advertising agencies

The role of a digital marketing and advertising agency is to turn leads into sales and increase the brand's online presence. In today's world, digital billboards and social media have overtaken traditional marketing and advertising channels.

As a project manager in a marketing and advertising agency, you want to set objectives that reflect the agency's role. This includes leveraging data, incorporating the latest trends, and defining productivity and sales roadmap. Set specific, relevant, and attainable objectives that will build trust and capture in building customer relationships.

An example of a project objective in a marketing and advertising agency is as follows:

“Create 15 quality blog posts next month that boost customer engagement by 20%.”

Creative and design agencies

The role of a creative and design agency is to develop innovative solutions that help businesses get their products out in the market by increasing brand awareness.

These agencies achieve this through graphic design, content creation, research, marketing, and web design.

A project manager in a creative agency should set realistic, measurable, and relevant objectives that align with the brand's business goals.

An example of such an objective is as follows:

“Increase app downloads by 30% in the next 6 months.”

Digital and media agencies

Digital and media agencies help businesses market their products and disseminate information. They do this through email marketing, content marketing, data-driven analytics, and web development.

A project manager in this agency should set concise objectives aimed at customer satisfaction.

An example of an objective in a digital and marketing agency is, 

“Boost customer satisfaction by 30% by January 2025.”

Consulting firms

Consulting firms help businesses implement strategies to increase efficiency, provide feedback, and offer solutions to complex problems within a specific timeline. They also give administrative support, especially during acquisitions and mergers.

An example of a project objective in a consulting firm is,

“Boost employee productivity under the new merger in 3 months.”

All the examples in these agencies have applied the SMART framework. The objectives are clearly defined, specific, attainable, measurable, relevant, and time-bound.

Tips for Setting Realistic and Meaningful Objectives

To set realistic and meaningful objectives:

• Align objectives with project scope, resources, and key stakeholders
• Regularly monitor and evaluate the objectives 
• Track the project timeline and project while adjusting where necessary 
• Keep the communication lines open and keep updating team members and stakeholders 

Quick Recap

Setting concise project management objectives isn't a walk in the park. You must clearly define your objectives to avoid scope creep and wasting time and resources. To sum up:

• Objectives of project management are important for boosting the team's productivity, employee satisfaction, and professional development 
• For the stakeholders, project objectives are crucial for managing expectations, building trust and relations, and preventing scope creep, thus helping them achieve their professional goals. 
• A project goal is different from a project objective. The former defines what the project will achieve, while the latter describes how to achieve it.
• Effective project objectives should follow the SMART criteria. Specific, Measurable,  Achievable, Relevant, and Time-bound

For your project objectives to be successful, they must be aligned with your business. Book a discovery session with us if you're unsure how to create and implement effective project objectives. We're here to support you throughout the project management process. Our team of experts will help you increase the likelihood of project success,  take control of your business growth, and maximize your company's potential. 

Complete our project management checklist today!

‍